In This Article:
| First quarter 2024-2025 revenue down 19.0% |
| 3-month revenue | 2023-2024 | 2024-2025 | Change | Change | ||
| Reported | Reported | €m | % | €m | % | |
| AGRICULTURAL SPRAYING | 90.9 | 62.2 | -28.8 | -31.6% | -28.7 | -31.6% |
| SUGAR BEET HARVESTING | 27.1 | 19.1 | -8.0 | -29.4% | -8.0 | -29.5% |
| LEISURE | 11.1 | 12.9 | +1.8 | +16.3% | +1.2 | +10.7% |
| INDUSTRY | 71.0 | 67.8 | -3.2 | -4.5% | -3.2 | -4.6% |
| EXEL Industries Group | 200.1 | 162.0 | -38.1 | -19.0% | -38.8 | -19.4% |
* Like-for-like (LFL) = at constant consolidation scope and foreign exchange rates
First quarter 2024-2025 revenue
The EXEL Industries Group posted revenue of €162.0 million for the first quarter of the 2024-2025 fiscal year, down 19.0% as reported and 19.4% at constant foreign exchange rates and scope.
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AGRICULTURAL SPRAYING DOWN 31.6%
Agricultural Spraying sales showed an expected decline of 31.6% as reported, penalized by low volumes and a challenging business climate. This downturn follows two exceptional years in the agricultural equipment sector, and business now seems to be returning to a more traditional seasonal pattern. Business is returning to the level of the 2021–2022 fiscal year. Revenue was down in the Group’s main regions, namely Europe, North America and Australia.
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SUGAR BEET HARVESTING DOWN 29.4%
Sugar Beet Harvesting sales were down compared with the first quarter of the 2023-2024 fiscal year, which was particularly strong with a catch-up in deliveries related to the previous fiscal year. The slight time lag between production schedule and actual sales should be resolved in the second quarter of 2024-2025. -
LEISURE UP 16.3%
In the first quarter, sales in the Garden division improved across all main Group regions, particularly France and the United Kingdom. Distributor inventory levels remain relatively low, with pre-season sales better than last year and in line with expectations. -
INDUSTRY DOWN 4.5%
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Industry revenue for the first quarter of the 2024–2025 fiscal year was stable year-on-year, except for a slight downturn in Asia, particularly in electrostatics. On the other hand, in Europe, and particularly in Western Europe, as well as in North America, sales remained buoyant.
2025 outlook
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AGRICULTURAL SPRAYING
After two exceptional years, business has returned to a normal seasonal pattern. The level of order intake has fallen significantly over the past fiscal year, with less long-term visibility than in the previous three years, calling for a degree of caution. Production capacities have been adjusted to the level of activity, and the Group remains vigilant with regard to changes in its cost structure. However, the agricultural equipment market cycle, particularly in Europe, seems to have reached its lowest point, with improving prospects.